MakerVerse, the on-demand additive manufacturing (AM) startup founded in 2022 with backing from companies like Siemens Energy and ZEISS, announced that it received €9.4 million (about $10 million) in its Series A round of financing. Including the two aforementioned German corporations, all of the original funders from the seed round also participated in this latest investment.
Like other online, on-demand portals in the AM space, the crux of MakerVerse’s business model is to link buyers interested in sourcing custom parts, to sellers qualified to supply those parts with AM (and/or CNC machining, injection molding, etc.). The main advantage that sets MakerVerse apart, according to founder and CEO Markus Seibold, is precisely its direct connection to corporations that comprise some of the world’s most proficient users of advanced manufacturing techniques — again, such as Siemens Energy and ZEISS. This could equate to a distinct edge over competing on-demand portals, by allowing MakerVerse to leverage the power of scale and geographic reach.
In a press release about MakerVerse’s $10 million funding round, Seibold commented, “The last year has really proven that companies want a simpler way to innovate. Our platform makes it easy to access advanced manufacturing technologies. With the additional funding, we will expand our technologies and help companies with even larger projects to drive further innovation.”
Ward Ripmeester, MakerVerse’s COO, explained, “We identified that many customers require additional assistance for their advanced manufacturing projects. With this funding, we’ll be able to expand our end-to-end production order support, which involves creating complete manufacturing plans, providing expert guidance, and executing the entire project.”
MakerVerse got started in 2022 with something of a soft launch, initially focusing on the German market, before expanding to other areas in Europe, as well as overseas, by the end of the year. The company now works with almost 50 suppliers, and has increased its staff to over 30 employees, who, rather impressively, come from over 15 different nations. According to MakerVerse, its customer base thus far is primarily comprised of business in heavy industry, the new space sector, and “companies prioritizing sustainability”: all key elements in the AM sector at-large.
Considering how many on-demand AM portals there are, along with the fact that such businesses have been an industry staple since the years of the desktop boom, it seems noteworthy how “up for grabs” the market share in this space still is. I wouldn’t expect that situation to last much longer. On-demand portals comprise exactly the sort of market segment where, in the long run, early winners are likely to be the most disproportionately benefitted. 2023 feels like a year when the list of early winners will start to be set in stone.
Along those lines, MakerVerse has perfect timing. That is not so surprising, given its tight links to an AM Forward member (Siemens Energy). At least at this point in the industry’s history, co-signs from legacy manufacturers are still one of the best indicators of a startup’s potential for success.
Images courtesy of MakerVerse
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